Pivot: 44.8
Our preference: Long positions above 44.8 with targets @ 47.35 48.15 in extension.
Alternative scenario: Below 44.8 look for further downside with 44 43.20 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
48.9
48.15
47.35
46.03 Last
44.8
44
43.20
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